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Debt Group Pans White House Call for ‘Petit Bargain’

Debt Group Pans White House Call for ‘Petit Bargain’

Image Source/Getty Images(WASHINGTON) — As the sequester spending cuts begin to take effect, the White House Monday pointed to one potential silver lining: significant progress in the battle to tame the nation’s deficit and debt.“The &lsqu…

Simpson and Bowles Keep Pushing with New Deficit Plan

Simpson and Bowles Keep Pushing with New Deficit Plan

Andrew Harrer/Bloomberg via Getty Images(WASHINGTON) — Alan Simpson and Erskine Bowles are at it again.Their broad deficit-reduction proposal failed to catch on following its release in December 2010, but the two have remained vocal about the nation’s…

Sen. Mitch McConnell: “The Tax Issue Is Finished”

Sen. Mitch McConnell: “The Tax Issue Is Finished”

Tom Williams/CQ Roll Call(WASHINGTON) — Senate Republican Leader Mitch McConnell, R-Ky., said Sunday he will not accept any new revenue in future deals with congressional Democrats and President Obama.“The tax issue is finished.  Over. Comp…

Deficit Deal Tops Obama’s Day-One Agenda

Deficit Deal Tops Obama’s Day-One Agenda

Chip Somodevilla/Getty Images(CHICAGO) — He won a second term by a narrower margin than he won his first, but President Obama believes his victory Tuesday night delivered a mandate that will reinvigorate his stalled legislative agenda and resolve a pa…

Biden Blames Bush Administration for Deficit

Biden Blames Bush Administration for Deficit

Alex Wong/Getty Images(FORT MYERS, Fla.) — Vice President Joe Biden placed the blame for the ballooning deficit on the Bush administration on Saturday, arguing that the previous administration saddled the country with the burden of trillions of dollar…

After 5 Trillion Added to Debt, Obama Ad Claims Romney Is a Deficit-Driver

After 5 Trillion Added to Debt, Obama Ad Claims Romney Is a Deficit-Driver

ABC/ Ida Mae Astute(CHICAGO) — President Obama has presided over three consecutive years of historically high federal budget deficits and the addition of more than $5 trillion to the national debt.Yet, that didn’t stop his campaign from launching a ne…

White House Projects $1.2 Trillion Deficit This Year

White House Projects $1.2 Trillion Deficit This Year

Comstock/Thinkstock(WASHINGTON) — The Obama administration has lowered its projection of the size of this year’s budget deficit by $116 billion, the Office of Management and Budget announced in its Mid-Session Review to Congress. “Thi…

President Obama Denounces GOP ‘Wild Debts’: I’m Not an Over-Spender

President Obama Denounces GOP ‘Wild Debts’: I’m Not an Over-Spender

Alex Wong/Getty Images(COLORADO SPRINGS, Colo.) — At a fundraiser for his re-election campaign in Denver Wednesday night, President Obama set out to upend conventional Republican wisdom that his administration has been defined by excessive government …

Facing $16B Deficit, Calif. Governor Proposes New Cost-Cutting Measures

Facing $16B Deficit, Calif. Governor Proposes New Cost-Cutting Measures

Office of California Gov. Jerry Brown(LOS ANGELES) — In a state where jobs have been reduced, pensions whittled away, and offices closed to save money, California Governor Jerry Brown says it’s still not enough.Facing a $16 billion deficit, Brown is n…

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